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U.S. Geothermal Inc.: U.S. Department of Energy Finalizes Award Grant for Raft River EGS Program

2009-09-15 09:00 ET - News Release

Also News Release (U-HTM) US GEOTHERMAL INC

BOISE, IDAHO -- (MARKET WIRE) -- 09/15/09

U.S. Geothermal Inc. (TSX: GTH)(NYSE Amex: HTM) ("U.S. Geothermal"), a renewable energy company focused on the production of electricity from geothermal energy, announced today that the U.S. Department of Energy ("DOE") has formally awarded the Enhanced Geothermal Systems ("EGS") grant that was announced on October 14, 2008. The Raft River EGS program now totals up to $10.21 million, with the DOE providing up to $7.39 million as part of the cost-sharing arrangement. The program is designed to perform a staged, thermal stimulation of an existing injection well to improve permeability within the geologic horizon that hosts the Raft River geothermal reservoir.

The program team is being led by the Energy & Geoscience Institute from the University of Utah. Team members APEX Petroleum Engineering Services, and HiPoint Reservoir Imaging are providing key technical service and contributions. U.S. Geothermal is providing "in kind" contributions to the program through the use of a spare injection well, technical personnel, access to the existing Raft River wellfield and technical data.

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